Required Information [The following information applies to the questions displayed below.] Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted-average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): June 1 balance Materials Direct labor Overhead June 30 balance Work in Process-Mixing Department Debit Credit Completed and transferred to Finished Goods 43,000 138,925 88,580 106,000 The June 1 work in process inventory consisted of 5.900 units with $22.770 in materials cost and $20.230 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 60% complete with respect to conversion. During June, 38,400 units were started into production. The June 30 work in process inventory consisted of 9,800 units that were 100% complete with respect to materials and 50% complete with respect to conversion.
Required Information [The following information applies to the questions displayed below.] Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted-average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): June 1 balance Materials Direct labor Overhead June 30 balance Work in Process-Mixing Department Debit Credit Completed and transferred to Finished Goods 43,000 138,925 88,580 106,000 The June 1 work in process inventory consisted of 5.900 units with $22.770 in materials cost and $20.230 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 60% complete with respect to conversion. During June, 38,400 units were started into production. The June 30 work in process inventory consisted of 9,800 units that were 100% complete with respect to materials and 50% complete with respect to conversion.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required Information
[The following information applies to the questions displayed below.]
Clopack Company manufactures one product that goes through one processing department called Mixing. All raw
materials are introduced at the start of work in the Mixing Department. The company uses the weighted-average method
of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions
pertain to June):
June 1 balance
Materials
Direct labor
Overhead
June 30 balance
Work in Process-Mixing Department
Debit
Credit
Completed and transferred to Finished Goods
43,000
138,925
88,580
106,000
The June 1 work in process inventory consisted of 5.900 units with $22.770 in materials cost and $20.230 in conversion
cost. The June 1 work in process inventory was 100% complete with respect to materials and 60% complete with respect
to conversion. During June, 38,400 units were started into production. The June 30 work in process inventory consisted
of 9,800 units that were 100% complete with respect to materials and 50% complete with respect to conversion.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe42e7e14-5914-40c3-9ba2-5e30aafa93d1%2F8f9a66c0-214e-417c-9785-62eaa57ae6bb%2Fpipqd1t_processed.png&w=3840&q=75)
Transcribed Image Text:Required Information
[The following information applies to the questions displayed below.]
Clopack Company manufactures one product that goes through one processing department called Mixing. All raw
materials are introduced at the start of work in the Mixing Department. The company uses the weighted-average method
of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions
pertain to June):
June 1 balance
Materials
Direct labor
Overhead
June 30 balance
Work in Process-Mixing Department
Debit
Credit
Completed and transferred to Finished Goods
43,000
138,925
88,580
106,000
The June 1 work in process inventory consisted of 5.900 units with $22.770 in materials cost and $20.230 in conversion
cost. The June 1 work in process inventory was 100% complete with respect to materials and 60% complete with respect
to conversion. During June, 38,400 units were started into production. The June 30 work in process inventory consisted
of 9,800 units that were 100% complete with respect to materials and 50% complete with respect to conversion.
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